Morning Report: FTSE 100 rises despite worst ever UK construction numbers

Headlines from the Proactive UK newsroom.

The FTSE 100 rose 23 to 5,782 in spite of the worst UK construction numbers ever recorded. April’s PMI number tumbled to 8.2 from 39.3 in March as the coronavirus impact bit hard.

Ocado’s revenue surged by 40% in its latest quarter though it says more normal shopping behaviours have returned and average basket items has passed its peak. The online grocery group has now opened its first two overseas depots.

ITV’s ad revenues plunged by 42% in April even though online viewing figures held up. Britbox is going well though most new productions are on hold due to pandemic restrictions.

Under fire insurer Hiscox has raised £375mln through a placing at 650p. The group is facing legal action from hundreds of firms that took out business interruption cover but won’t get paid for coronavirus losses.

Braveheart shares climbed again as it said three of its investee companies are in talks over collaborating with antibody group Aptamer. Paraytec, for example, is in talks with Aptamer and Sheffield University over a rapid Covid-19 test.

Integumen PLC (LON:SKIN) is to double production of a reagent shipped to partner Modern Water used to help detect contamination to meet growing demand prompted by the coronavirus (COVID-19) outbreak. The first shipment has been made to fill back-orders, while the new production run has a list price of £500,000 per batch.

Aminex PLC (LON:AEX) shares jumped higher as it agreed an advance of a US$2mln loan from incoming partner ARA Petroleum to pay a tax in Tanzania. The move will allow Aminex and ARA to advance the Ruvuma project towards development.

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